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Bill: Emergency bailout and administration plan for JKU Inc
Details
Submitted by[?]: Democratic Socialist Party of Rutania
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: October 4026
Description[?]:
| We propose that federal government loans be made available for JKU Inc, sufficient for the company to continue operations for two years. After discussions with the DWC of JKU, it seems that a turnaround in performance is unlikely without a change in the market. Should there be an unexpected recovery in the market sufficient to make JKU viable again during the period, JKU will subsequently pay an increased rate of corporation tax until the bailout loans are repaid with interest (the rate of which shall be equal to inflation). Otherwise, staffing reductions should be made through natural employee turnover and voluntary redundancies only; retraining schemes and one-off payments to incentivise take-up of voluntary redundancies should be made available to the extent that these are necessary. Compulsory redundancies should be made only in the last six months, and as a last resort. At the end of the two-year period, the bailout loans will be written off, and ownership of the company's assets should be transferred to the government to sell; funds raised in this way should be put first towards funding any shortfall in the company's pension provisions, then toward the treasury to recoup the cost of the bailout loans. |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 17:52:47, May 10, 2016 CET | From | Libertarian Party | To | Debating the Emergency bailout and administration plan for JKU Inc |
| Message | Mr. Speaker, This would send a wrong message to other cooperation, this will make it possible for them to make riskier moves and put their worker's jobs at risk. We'll urge everyone to make the right choice, the JKU inc. is a dead company, it has no point in funding an already dead company. Rep. Jerome Hunter, Deputy Leader LP |
| Date | 18:09:23, May 10, 2016 CET | From | Green Party of Rutania | To | Debating the Emergency bailout and administration plan for JKU Inc |
| Message | OOC: This is like 1980s Britain, lol. |
| Date | 21:21:19, May 10, 2016 CET | From |  Democratic Socialist Party of Rutania | To | Debating the Emergency bailout and administration plan for JKU Inc |
| Message | Mr Speaker, The Libertarians are being absurd if they think that this incentivises risky behaviour. This bailout provides funds only for outgoings, and makes no allowance for profit or reinvestment since the company is to be wound down, and all of this is limited to only two years. The idea that companies would sustain years of losses for a reward like this is ridiculous. And in any case, JKU's failure was down to a slump in the market for their products, not excessively risky investments. Once again, the Libertarians are so preoccupied with their risible ideology that they have failed to grasp the concrete facts of the situation. James Hoare DSPR Trade and Industry Spokesman Representative for Delvar, DSPD (DSPR) |
| Date | 21:52:15, May 10, 2016 CET | From | Great Rutania party | To | Debating the Emergency bailout and administration plan for JKU Inc |
| Message | mr speaker, We see how this bill would work, but we also see the libertarians point on the fact other companies may become less efficient and may want more government funding which we cannot afford. However the GRP will vote for this but only if we are assured it's a one off. Thank you, Nigel Red, Ardinia Representative. |
| Date | 23:17:37, May 10, 2016 CET | From | Libertarian Party | To | Debating the Emergency bailout and administration plan for JKU Inc |
| Message | Mr. Speaker, We can accept the GRP's view on this issue. Also we would like to add, that these are very strong government measures and we don't think a company is more likely to grow, but even more likely to shrink in these circumstances. Rep. Jerome Hunter, Deputy Leader LP |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 215 | ||||
| no |
Total Seats: 86 | ||||
| abstain | Total Seats: 199 |
| Random fact: Make sure to check out Particracy's wiki. http://particracy.wikia.com/wiki/Main_Page |
| Random quote: "How much more grievous are the consequences of anger than the causes of it." - Marcus Aurelius |